Wave Analysis: #Corn is expected to fall further and re-test the next support level 360.00. Read more

Wave Analysis: #EURUSD is expected to rise further and re-test the next key resistance level 1.1500. Read more

🗓 Important upcoming events and publications for November 20th (GMT):

🇩🇪 07:00 Producer Price Index in Germany had steadily gained momentum since February. For October, the annual growth rate is expected to accelerate from 3.2% to 3.3% y/y. PPI is regarded as an early indicator of the consumer inflation's trends. Growth above the forecasts can additionally support #EUR on expectations of the rigid ECB rhetoric.

🇬🇧 10:00 The Bank of England Governor will present an inflation report to the Parliament. Traders and investors will put their attention to the economical forecasts and the interest rates trends. These data may increase volatility on #GBP.

🇺🇸 13:30 The U.S. number of building permits had almost invariably decreased since March, causing more and more apprehensions among investors. On Monday, the NAHB index showed a sharp decline: the development of this trend is able to further weaken the #USD.

Visit https://fxpro.news/economic-calendar/ for more information.

#Facebook lost 40% from its peak values in the middle of the year and sank to low levels, which we have not seen since February 2017.

#Nasdaq Index had lost 3% on Monday, and at the start of trading on Tuesday plummeted to lows seen back in May, subsequent to the decline of stocks of market giant such as #Google, #Amazon and #Apple.

It is logical to fear that the correction of high-tech companies might spread to the entire stock market. It happens most of the time, but one should not rush to conclusions.

Based on what we have seen, it can be said that the end of the easy-money era, initiated in early October, resulted in the realisation of a more realistic view of the markets.

Markets are on the way from irrational exuberance to anxiety.

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Last week’s sell-off seemed to be a turning point for the crypto market. During this week only, the price of Bitcoin (BTC) has fallen by 20%, trading below $4,400 at one point. It is worth noting that this was not a single sharp collapse as last week, but rather a systematic sell-off throughout the day. Markets participants are trying to sense whether this is the bottom, however no sure answer can be given.

The only question now is how low the new correction will turn out. Experts predicted a decrease in Bitcoin (BTC) to the area near $3,500, at which point the cryptocurrency will stabilize and receive some support from market participants. At the moment, we have the same "hype factor" which pushed BTC to $20,000 last year, but however in the opposite direction: from rapid growth to extreme fear and sell-off.

Over the past week, the world's leading cryptocurrency fell by $1,650 and at the moment there are no signs of recuperation. Read more

🗓 Important upcoming events and publications for November 21 (GMT):

🇬🇧 09:30 U.K. Public Sector Net Borrowing is another evidence of the economy trends. Such dynamics has a pronounced seasonality, so, it makes sense to compare the data with the same month a year earlier, as well as with the market expectations. Deficit growth above the forecast (5.6 billion) is able to put pressure on #GBP.

🇺🇸 13:30 U.S. Durable goods orders is considered as a good indicator of the current mood of the national business. The growth of this indicator reflects confidence in the economic prospects and is able to support #USD.

🇺🇸15:00 The US Existing Home Sales is the good indicator for assessing prospects from households. Since March, sales are in decline, causing the nervousness of market participants, as the deceleration of real estate often precedes the economy slowdown. Market analysts are expecting an increase of 1% in October, after 3.4% failure a month earlier.

Visit https://fxpro.news/economic-calendar/ for more information.

#DJI had lost more than 2%, subsequent to the decline of the shares of the energy sector, throwing the index back to October’s lows. It seems that for the last month, positive drivers are struggling to push the market to a sustainable trend for growth.

Crude Oil experienced a sharp and unexpected reversal to a decline on Tuesday. #WTI lost 7% on Tuesday, exactly the same percentage as one week ago.

Markets are fearing that the slowdown in the world economy will slow the growth of oil consumption, nevertheless production is significantly increasing.

But there are a few things that allow us to remain optimistic about the stock markets, at least for a while.

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Wave Analysis: #WTI is expected to fall further and re-test the next round support level 50.00. Read more

Wave Analysis: #AUDUSD is expected to fall further and re-test the next support level 0.7200. Read more

🗓 Important upcoming events and publications for November 22nd (GMT):

🇪🇺 12:30 ECB Monetary Policy Meeting Accounts can increase volatility in pairs with #EUR if it provides clarification in the regulator's views on the macroeconomic forecasts and policy. By the end of the year the ECB is going to wind down balance sheet asset purchases, completing this stage of QE, and expects to start raising rates no earlier than in autumn of 2019.

🇪🇺15:00 EU Consumer Confidence Index had fallen sharply for several months. A preliminary estimate of November’s data is expected to show further deterioration to -3.0. Strong data can support the #EUR, while weak indicator can affect the euro in the negative way.

🇺🇸 On the occasion of the Thanksgiving in the USA, no important statistics will be published and U.S. stock market will be closed on Thursday and will close earlier than usual (at 18:00 GMT) on Friday.

Visit https://fxpro.news/economic-calendar/ for more information.

Markets diligently tried to defend their positions before the holidays in the USA. #DJI had completed the trading on Wednesday almost unchanged, after losing about 4% in first two days of the week.

Despite the negative dynamics of the market favorites in previous months and years, market participants are far from panic.

The easing of the Fed's rhetoric last week has turned the dollar into decline, although this has not yet much affected the stock prices.

The foreign exchange market is often the first to react on the changes in external conditions. And it has already given its verdict to the Fed’s sentiment, throwing away the dollar from the multi-month highs.

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Dear traders!

Due to the Thanksgiving Day, the US stock markets are closed today. On Friday there will be a shortened trading session for a range of instruments.

Please, check the actual trading schedule on our website: https://www.fxpro.com/trading-tools/market-holidays

Trade Responsibly: 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Wave Analysis: #EURCAD is expected to rise further and re-test the aforementioned resistance level 1.5300. Read more

Wave Analysis: #Cotton is expected to rise further and re-test resistance at 80.00.
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Wave Analysis: #Gold is expected to rise further and re-test the next resistance level 1240.00. Read more